Allstate Seeks Hearing on Rate Request Denial

By: The Associated Press
By: The Associated Press

Insurance Commissioner Mike Chaney told The Sun Herald that he plans to schedule the hearing for some time in January.

The Mississippi Insurance Department concluded in September the increase was unjustified, but Allstate argues it is warranted. The commissioner usually hears appeals.

Allstate has asked that Chaney appoint someone else because he already has stated he will not approve the increase without a court order.

Allstate requested the rate hike in March, after Chaney had rejected the company's request for a 65 percent increase.

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  • by Anonymous on Nov 11, 2010 at 03:11 PM
    Gota love all the PhD's here on economics and commercial business.. fact you increase taxes they are passed to you.. you keep control on what can be sold and cant you drive up prices open market is the best way pick and chose what you want covered that alone will drive rates down.. oh and another thing that will drive the rates down have a 10% law so when the other person acts stupid they can be charged as well.. and take responsibility of cause of the wreck as a few states have already.. only draw back is your personally responsible for part of the bill..for being stupid IE last min braking ... right turn signal on and you make left turn.. doing 50 in a 30.. etc
  • by rr Location: lauderdale county on Nov 9, 2010 at 06:45 PM
    I think it is Allstate's way of pricing their way out of Mississippi.If they don't get the increase,I am sure they will pull out of MS.
  • by Lisa Location: Meridian on Nov 9, 2010 at 06:31 AM
    Looks like I will be searching other insurance companies for a cheaper price. Customers can understand a small rate increase but 44%. WOW!!!
  • by Peabody Location: Zero on Nov 9, 2010 at 05:55 AM
    To Bubba: You are just being greedy. Do you have any idea what it cost the CEO of one of these companies to fill the diesel tank of his yacht in these days and time? Of course if you make a claim you get cancelled you only paid about $9600 per year and if they pay a $5000 claim you are cutting into profits. Makes sense to me. A smart man would not make claim if his house burned he would just move to one of his others. Same with vehicles if you wreck the Mercedes just suck it up and drive the Beamer. Do you realize his bonus didn't even increase a million dollars last year.Come on that extra $4800 you would pay probably won't even buy him a decent shower curtain. You must be living in the 80s or earlier whey the rule was an honest days pay for an honest days work. I did not mean to disrespect Bubba but just wanted to show how stupid things have gotten.
  • by bubba Location: in the insurance po house on Nov 8, 2010 at 03:46 PM
    For most people that has insurance, they are paying more and more and getting less and less. I will say that all the insurance I pay out per month is around $800.00 and I have not had to file on any of them. If I should have to file I am in fear of receiving a phone call saying that my policy has been canceled because I used the insurance. I also had to get hig deductibles so I could afford the insurance. GIVE A RATE INCREASE IN THIS DAY AND TIME????????? Heck how bout everyone drop the insurance and then see where the company is at then
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